In the cryptocurrency circle, Hongjie 3.11 (Writing time 1:37) Today's bitcoin (BTC) latest market analysis and trading advice:
Bitcoin's current price is around 70800. Today's market trend broke through the 4H chart's upper BOLL band and EMA160, forming a strong upward movement. It has now encountered resistance at EMA250, halting its rise. The candlestick pattern may be forming a double top. Hongjie does not recommend chasing the highs, as there might be a drop followed by a rise; it was mentioned earlier that KDJ has formed an overbought situation at high levels, including the three lines of RSI, which are also showing a downward turn from high levels. In the short term, the price still faces resistance from the EMA250 and MA280 range above. Hongjie believes this can serve as a point for short positions; if MA280 is strongly broken, the next high may attempt to reach above the previous high point of 74000 and the daily EMA60 range; thus, today's support can be directly observed at the intraday breakout point at the 4H chart EMA160 position. If the DIF and DEA converge but do not form a death cross, the market will still have a chance to continue rising; one can choose to set up major long positions because the 4H level BOLL channel is showing an opening pattern!
Today's selling point recommendation: ≥72400 light short, stop loss above 73000. Take profit at 71500-70500-69600. Breaking 69500-69000 can be held.
Today's buying point recommendation: ≤69600 light long, stop loss below 68600. Take profit at 70500-71500-72400. Breaking 73000 can continue to look up to around 74000;
There is a delay in the review and push of this article. The above points are for reference only. Please grasp the timing of buying and selling on your own, and ensure proper risk control when entering the market. Do not operate with heavy positions! Thank you for reading!
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Thus, our journey in the cryptocurrency circle begins to step toward a broader new starting point, and it is by no means an endpoint because the road is still long, and we must take it step by step! The ocean of the cryptocurrency circle is vast and boundless, filled with opportunities and challenges. I hope you will always maintain a thirst for knowledge and a spirit of exploration in the days to come. Remember, the cryptocurrency circle is not just about numbers and charts; it is also about human nature, decision-making, and the art of the future. In investment, maintain rationality and calmness, do not be swayed by short-term fluctuations, and view the market with a long-term perspective. Continuously learn and enhance your professional qualities. Knowledge in the financial field is constantly updating. Only through continuous learning can you keep pace with the times and seize every opportunity. Be brave to try and innovate. Do not fear failure, as every failure is an opportunity for growth. In the world of cryptocurrency, the brave often carve out their own territory. Finally, may you all shine on the stage of the cryptocurrency circle and realize your value and dreams. Wherever and whenever, Hongjie cheers for you and looks forward to your wonderful performance. Hongjie wishes everyone a smooth journey in the cryptocurrency circle, returning laden with success!
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